COB 300 Pargas Exam 2 ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
The purpose of strategy is... Sustainable Competitive Advantage
Examples of Purpose of Strategy Samsung's Quality
Apple's Innovation Strategy
Walmart's cost leadership
, Components of Business Strategy Mission and Vision
Core Values
Strategic Objectives
Action Plan
Mission and Vision Core purpose and long term goals
Core Values Guiding principles for decision-making
Strategic Objectives Specific, measurable outcomes the organization aims to achieve
Action Plan Specifics of how to achieve objectives
Mission Statement A company's descriptive statement of what they do
Vision Statement Aspirational and less descriptive
Porter's Four Competitive Strategies Cost Leadership
Differentiation
Cost Focus
Differentiation Focus
Narrow Target Companies that deliberately reduce the number of customers for which they are
ready to compete.
The Strategic Planning Process Analyze the Environment - internal & external analysis
Define Strategic Goals - clear, achievable objectives
Formulate Strategy - based on analysis and goals
Implement Strategy - align resources and operations
Evaluate and Control - measure performance, adjust
The purpose of strategy is... Sustainable Competitive Advantage
Examples of Purpose of Strategy Samsung's Quality
Apple's Innovation Strategy
Walmart's cost leadership
, Components of Business Strategy Mission and Vision
Core Values
Strategic Objectives
Action Plan
Mission and Vision Core purpose and long term goals
Core Values Guiding principles for decision-making
Strategic Objectives Specific, measurable outcomes the organization aims to achieve
Action Plan Specifics of how to achieve objectives
Mission Statement A company's descriptive statement of what they do
Vision Statement Aspirational and less descriptive
Porter's Four Competitive Strategies Cost Leadership
Differentiation
Cost Focus
Differentiation Focus
Narrow Target Companies that deliberately reduce the number of customers for which they are
ready to compete.
The Strategic Planning Process Analyze the Environment - internal & external analysis
Define Strategic Goals - clear, achievable objectives
Formulate Strategy - based on analysis and goals
Implement Strategy - align resources and operations
Evaluate and Control - measure performance, adjust
